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EX. 99.1
LETTER OF TRANSMITTAL
THE J.H. HEAFNER COMPANY, INC.
OFFER TO EXCHANGE ALL OF ITS OUTSTANDING
10% SENIOR NOTES DUE 2008
FOR UP TO $100,000,000 AGGREGATE PRINCIPAL AMOUNT OF
ITS 10% SENIOR NOTES DUE 2008
PURSUANT TO THE PROSPECTUS DATED [ ], 1998
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THE EXCHANGE OFFER WILL EXPIRE AT 5:00 P.M., NEW YORK
CITY TIME, ON [ ], 1998 UNLESS EXTENDED OR TERMINATED
(THE "EXPIRATION DATE").
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The Exchange Agent for the Exchange Offer is:
THE CHASE MANHATTAN BANK
By Mail, Hand or Overnight Courier: Facsimile Transmission Number
55 Water Street (Eligible Institutions only):
Room 234, North Building (212) 638-7375 or
New York, New York 10041 (212) 344-9367
Attention: Carlos Esteves
To Confirm Facsimile
(IF BY MAIL, REGISTERED OR or for Information Call
CERTIFIED MAIL RECOMMENDED) (212) 638-0828
DELIVERY OF THIS LETTER OF TRANSMITTAL (THE "LETTER OF TRANSMITTAL") TO AN
ADDRESS, OR TRANSMISSION VIA FACSIMILE TO A NUMBER, OTHER THAN AS SET FORTH
ABOVE, WILL NOT CONSTITUTE A VALID TENDER OF THE J.H. HEAFNER COMPANY, INC. 10%
SENIOR NOTES DUE 2008 (THE "INITIAL NOTES").
THE INSTRUCTIONS CONTAINED HEREIN SHOULD BE READ CAREFULLY BEFORE THIS
LETTER OF TRANSMITTAL IS COMPLETED AND SIGNED.
All capitalized terms used herein and not defined herein shall have the
meaning ascribed to them in the Prospectus (as defined below).
This Letter of Transmittal is to be used by registered holders of
Initial Notes ("Holders") if: (i) certificates representing Initial Notes are to
be physically delivered to the Exchange Agent by such Holders; (ii) tender of
Initial Notes is to be made by book-entry transfer to the Exchange Agent's
account at The Depository Trust Company ("DTC" or the "Book-Entry Transfer
Facility") pursuant to the procedures set forth in the Prospectus, dated [ ],
1998 (as the same may be amended from time to time, the "Prospectus") under the
caption "The Exchange Offer -- Book-Entry Transfer" by any financial institution
that is a participant in DTC and whose name appears on a security position
listing as the owner of Initial Notes or (iii) delivery of Initial Notes is to
be made according to the guaranteed delivery procedures set forth in the
Prospectus under the caption "The Exchange Offer -- Guaranteed Delivery
Procedures," and, in each case, instructions are not being transmitted through
the DTC.
Automated Tender Program ("ATOP"). DELIVERY OF DOCUMENTS TO THE
BOOK-ENTRY TRANSFER FACILITY IN ACCORDANCE WITH SUCH BOOK-ENTRY TRANSFER
FACILITY'S PROCEDURES DOES NOT CONSTITUTE DELIVERY TO THE EXCHANGE AGENT.
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NOTE: SIGNATURES MUST BE PROVIDED BELOW
PLEASE READ THE ACCOMPANYING INSTRUCTIONS CAREFULLY
Ladies and Gentlemen:
By execution hereof, the undersigned acknowledges receipt of the
Prospectus, dated [ ], 1998 (as the same may be amended from time to time,
the "Prospectus"), of The J.H. Heafner Company, Inc., a North Carolina
corporation (the "Company"), and this Letter of Transmittal and the instructions
hereto, which together constitute Company's offer to exchange (the "Exchange
Offer") $1,000 principal amount of its 10% Senior Notes due 2008 (the "Exchange
Notes") of the Company, upon the terms and subject to the conditions set forth
in the Exchange Offer, for each $1,000 principal amount of its outstanding 10%
Senior Notes due 2008 (the "Initial Notes").
Upon the terms and subject to the conditions of the Exchange Offer, the
undersigned hereby tenders to the Company the principal amount of Initial Notes
indicated above. Subject to, and effective upon, the acceptance for exchange of
the Initial Notes tendered herewith, the undersigned hereby exchanges, assigns
and transfers to, or upon the order of, the Company all right, title and
interest in and to such Initial Notes. The undersigned hereby irrevocably
constitutes and appoints the Exchange Agent as the true and lawful agent and
attorney-in-fact of the undersigned (with full knowledge that the Exchange Agent
also acts as the agent of the Company) with respect to such Initial Notes with
full power of substitution (such power-of-attorney being deemed to be an
irrevocable power coupled with an interest) to (i) present such Initial Notes
and all evidences of transfer and authenticity to, or transfer ownership of,
such Initial Notes on the account books maintained by the Book-Entry Transfer
Facility to, or upon the order of, the Company, (ii) present such Initial Notes
for transfer of ownership on the books of the Company or the trustee under the
Indenture (the "Trustee") and (iii) receive all benefits and otherwise exercise
all rights of beneficial ownership of such Initial Notes, all in accordance with
the terms and conditions of the Exchange Offer as described in the Prospectus.
The undersigned represents and warrants that it has full power and
authority to tender, exchange, assign and transfer the Initial Notes tendered
hereby and to acquire Exchange Notes issuable upon the exchange of such tendered
Initial Notes, and that, when the same are accepted for exchange, the Company
will acquire good and unencumbered title to the tendered Initial Notes, free and
clear of all liens, restrictions, charges and encumbrances and not subject to
any adverse claim or right. The undersigned also warrants that it will, upon
request, execute and deliver any additional documents deemed by the Exchange
Agent or the Company to be necessary or desirable to complete the exchange,
assignment and transfer of the Initial Notes tendered hereby or transfer
ownership of such Initial Notes on the account books maintained by the
book-entry transfer facility.
The Exchange Offer is subject to certain conditions as set forth in the
Prospectus under the caption "The Exchange Offer -- Conditions." The undersigned
recognizes that as a result of these conditions (which may be waived by the
Company, in whole or in part, in the reasonable discretion of the Company), as
more particularly set forth in the Prospectus, the Company may not be required
to exchange any of the Initial Notes tendered hereby and, in such event, the
Initial Notes not exchanged will be returned to the undersigned at the address
shown above.
THE EXCHANGE OFFER IS NOT BEING MADE TO ANY BROKER-DEALER WHO PURCHASED
INITIAL NOTES DIRECTLY FROM THE COMPANY FOR RESALE PURSUANT TO RULE 144A UNDER
THE SECURITIES ACT OR ANY PERSON THAT IS AN "AFFILIATE" OF THE COMPANY WITHIN
THE MEANING OF RULE 405 UNDER THE SECURITIES ACT. THE
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UNDERSIGNED UNDERSTANDS AND AGREES THAT THE COMPANY RESERVES THE RIGHT NOT TO
ACCEPT TENDERED INITIAL NOTES FROM ANY TENDERING HOLDER IF THE COMPANY
DETERMINES, IN ITS REASONABLE DISCRETION, THAT SUCH ACCEPTANCE COULD RESULT IN A
VIOLATION OF APPLICABLE SECURITIES LAWS.
The undersigned, if the undersigned is a beneficial holder, represents
(or, if the undersigned is a broker, dealer, commercial bank, trust company or
other nominee, represents that it has received representations from the
beneficial owners of the Initial Notes (the "Beneficial Owner") stating) that,
(i) the Exchange Notes to be acquired in connection with the Exchange Offer by
the Holder and each Beneficial Owner of the Initial Notes are being acquired by
the Holder and each such Beneficial Owner in the ordinary course of their
business, (ii) the Holder and each such Beneficial Owner are not engaged in, do
not intend to engage in, and have no arrangement or understanding with any
person to participate in, a distribution of the Exchange Notes, (iii) the Holder
and each Beneficial Owner acknowledge and agree that any person participating in
the Exchange Offer for the purpose of distributing the Exchange Notes cannot
rely on the interpretations of the staff of the Commission discussed in the
Prospectus under the caption "The Exchange Offer -- Purpose and Effect of the
Exchange Offer" and may only sell the Exchange Notes acquired by such person
pursuant to a registration statement containing the selling security holder
information required by Item 507 of Regulation S-K under the Securities Act,
(iv) if the Holder is a broker-dealer that acquired Initial Notes as a result of
market-making activities or other trading activities, it will deliver a
prospectus in connection with any resale of Exchange Notes acquired in the
Exchange Offer (but by so acknowledging and by delivering a prospectus, the
undersigned will not be deemed to admit that it is an "underwriter" within the
meaning of the Securities Act) and (v) neither the Holder nor any such
Beneficial Owner is an "affiliate," as defined under Rule 405 of the Securities
Act, of the Company or of Parent or is a broker-dealer who purchased Initial
Notes directly from the Company for resale pursuant to Rule 144A under the
Securities Act.
EACH BROKER-DEALER WHO ACQUIRED INITIAL NOTES FOR ITS OWN ACCOUNT AS A
RESULT OF MARKET-MAKING ACTIVITIES OR OTHER TRADING ACTIVITIES (A "PARTICIPATING
BROKER-DEALER"), BY TENDERING SUCH INITIAL NOTES AND EXECUTING THIS LETTER OF
TRANSMITTAL, AGREES THAT, UPON RECEIPT OF NOTICE FROM THE COMPANY OF THE
OCCURRENCE OF ANY EVENT OR THE DISCOVERY OF ANY FACT WHICH MAKES ANY STATEMENT
CONTAINED OR INCORPORATED BY REFERENCE IN THE PROSPECTUS UNTRUE IN ANY MATERIAL
RESPECT OR WHICH CAUSES THE PROSPECTUS TO OMIT TO STATE A MATERIAL FACT
NECESSARY IN ORDER TO MAKE THE STATEMENTS CONTAINED OR INCORPORATED BY REFERENCE
THEREIN, IN LIGHT OF THE CIRCUMSTANCES UNDER WHICH THEY WERE MADE, NOT
MISLEADING OR OF THE OCCURRENCE OF CERTAIN OTHER EVENTS SPECIFIED IN THE
REGISTRATION RIGHTS AGREEMENT, SUCH PARTICIPATING BROKER-DEALER WILL SUSPEND THE
SALE OF EXCHANGE NOTES PURSUANT TO THE PROSPECTUS UNTIL THE COMPANY HAS AMENDED
OR SUPPLEMENTED THE PROSPECTUS TO CORRECT SUCH MISSTATEMENT OR OMISSION AND HAS
FURNISHED COPIES OF THE AMENDED OR SUPPLEMENTED PROSPECTUS TO THE PARTICIPATING
BROKER-DEALER OR THE COMPANY HAS GIVEN NOTICE THAT THE SALE OF THE EXCHANGE
NOTES MAY BE RESUMED, AS THE CASE MAY BE.
EACH PARTICIPATING BROKER-DEALER SHOULD CHECK THE BOX HEREIN UNDER THE
CAPTION "FOR PARTICIPATING BROKER-DEALERS ONLY" IN ORDER TO RECEIVE ADDITIONAL
COPIES OF THE PROSPECTUS, AND ANY AMENDMENTS AND SUPPLEMENTS THERETO, FOR USE IN
CONNECTION WITH RESALES OF THE EXCHANGE NOTES, AS
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WELL AS ANY NOTICES FROM THE COMPANY TO SUSPEND AND RESUME USE OF THE
PROSPECTUS. BY TENDERING ITS INITIAL NOTES AND EXECUTING THIS LETTER OF
TRANSMITTAL, EACH PARTICIPATING BROKER-DEALER AGREES TO USE ITS REASONABLE BEST
EFFORTS TO NOTIFY THE COMPANY OR THE EXCHANGE AGENT WHEN IT HAS SOLD ALL OF ITS
EXCHANGE NOTES. IF NO PARTICIPATING BROKER- DEALERS CHECK SUCH BOX, OR IF ALL
PARTICIPATING BROKER-DEALERS WHO HAVE CHECKED SUCH BOX SUBSEQUENTLY NOTIFY THE
COMPANY OR THE EXCHANGE AGENT THAT ALL THEIR EXCHANGE NOTES HAVE BEEN SOLD, THE
COMPANY WILL NOT BE REQUIRED TO MAINTAIN THE EFFECTIVENESS OF THE EXCHANGE OFFER
REGISTRATION STATEMENT OR TO UPDATE THE PROSPECTUS AND WILL NOT PROVIDE ANY
HOLDERS WITH ANY NOTICES TO SUSPEND OR RESUME USE OF THE PROSPECTUS.
The undersigned understands that tenders of the Initial Notes pursuant
to any one of the procedures described under "The Exchange Offer -- Procedures
for Tendering" in the Prospectus and in the instructions hereto will constitute
a binding agreement between the undersigned and the Company in accordance with
the terms and subject to the conditions of the Exchange Offer. All authority
herein conferred or agreed to be conferred by this Letter of Transmittal and
every obligation of the undersigned hereunder shall be binding upon the heirs,
legal representatives, successors and assigns, executors, administrators and
trustees in bankruptcy of the undersigned and shall survive the death or
incapacity of the undersigned. Tendered Initial Notes may be withdrawn at any
time prior to 5:00 p.m. on the Expiration Date in accordance with the terms of
the Exchange Offer.
The undersigned understands that by tendering Initial Notes pursuant to
one of the procedures described under "The Exchange Offer -- Procedures for
Tendering" in the Prospectus and the instructions hereto, the tendering Holder
will be deemed to have waived the right to receive any payment in respect of
interest on the Initial Notes accrued up to the date of issuance of the Exchange
Notes.
The undersigned also understands and acknowledges that the Company
reserves the right in its sole discretion to purchase or make offers for any
Initial Notes that remain outstanding subsequent to the Expiration Date in the
open market, in privately negotiated transactions, through subsequent exchange
offers or otherwise. The terms of any such purchases or offers could differ from
the terms of the Exchange Offer.
The undersigned understands that the delivery and surrender of the
Initial Notes is not effective, and the risk of loss of the Initial Notes does
not pass to the Exchange Agent, until receipt by the Exchange Agent of this
Letter of Transmittal, or a manually signed facsimile hereof, properly completed
and duly executed, with any required signature guarantees, together with all
accompanying evidences of authority and any other required documents in form
satisfactory to the Company. All questions as to form of all documents and the
validity (including time of receipt) and acceptance of tenders and withdrawals
of Initial Notes will be determined by the Company, in its sole discretion,
which determination shall be final and binding.
Unless otherwise indicated herein in the box entitled "Special Issuance
Instructions," the undersigned hereby requests that any Initial Notes
representing principal amounts not tendered or not accepted for exchange be
issued in the name(s) of the undersigned and that Exchange Notes be issued in
the name(s) of the undersigned (or, in the case of Initial Notes delivered by
book-entry transfer, by credit to the account at the Book-Entry Transfer
Facility). Similarly, unless otherwise indicated herein in the box entitled
"Special Delivery Instructions," the undersigned hereby requests that any
Initial Notes representing principal amounts not tendered or not accepted for
exchange and Exchange Notes be delivered to the
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undersigned at the address(es) shown above. The undersigned recognizes that the
Company has no obligation pursuant to the "Special Issuance Instructions" box or
"Special Delivery Instructions" box to transfer any Initial Notes from the name
of the registered Holder(s) thereof if the Company does not accept for exchange
any of the principal amount of such Initial Notes so tendered.
In order to properly complete this Letter of Transmittal, a Holder must
(i) complete the box entitled "Method of Delivery" by checking one of the three
boxes therein and supplying the appropriate information, (ii) complete the box
entitled "Description of Initial Notes," (iii) if such Holder is a Participating
Broker-Dealer (as defined below) and wishes to receive additional copies of the
Prospectus for delivery in connection with resales of Exchange Notes (as defined
below), check the applicable box, (iv) sign this Letter of Transmittal by
completing the box entitled "Please Sign Here," (v) if appropriate, check and
complete the boxes relating to the "Special Issuance Instructions" and "Special
Delivery Instructions" and (vi) complete the Substitute Form W-9. Each Holder
should carefully read the detailed Instructions below prior to the completing
this Letter of Transmittal. See "The Exchange Offer -- Procedures For Tendering"
in the Prospectus.
Holders of Initial Notes that are tendering by book-entry transfer to
the Exchange Agent's account at DTC can execute the tender through ATOP, for
which the transaction will be eligible. DTC participants that are accepting the
Exchange Offer should transmit their acceptance to DTC, which will edit and
verify the acceptance and execute a book-entry delivery to the Exchange Agent's
account at DTC. DTC will then send an Agent's message to the Exchange Agent for
its acceptance. Delivery of the Agent's Message by DTC will satisfy the terms of
the Exchange Offer as to execution and delivery of a Letter of Transmittal by
the participant identified in the Agent's Message. DTC participants may also
accept the Exchange Offer by submitting a Notice of Guaranteed Delivery through
ATOP.
If Holders desire to tender Initial Notes pursuant to the Exchange
Offer and (i) certificates representing such Initial Notes are not lost but are
not immediately available, (ii) time will not permit this Letter of Transmittal,
certificates representing such Holder's Initial Notes and all other required
documents to reach the Exchange Agent prior to the Expiration Date or (iii) the
procedures for book-entry transfer cannot be completed prior to the Expiration
Date, such Holders may effect a tender of such Initial Notes in accordance with
the guaranteed delivery procedures set forth in the Prospectus under the caption
"The Exchange Offer -- Guaranteed Delivery Procedures." See Instruction 2 below.
A Holder having Initial Notes registered in the name of a broker,
dealer, commercial bank, trust company or other nominee must contract such
broker, dealer, commercial bank, trust company or other nominee if they desire
to accept the Exchange Offer with respect to the Initial Notes so registered.
THE EXCHANGE OFFER IS NOT BEING MADE TO (NOR WILL TENDERS OF INITIAL
NOTES BE ACCEPTED FROM OR ON BEHALF OF) HOLDERS IN ANY JURISDICTION IN WHICH THE
MAKING OR ACCEPTANCE OF THE EXCHANGE OFFER WOULD NOT BE IN COMPLIANCE WITH THE
LAWS OF SUCH JURISDICTION.
Your bank or broker can assist you in completing this form. The
instructions included with this Letter of Transmittal must be followed.
Questions and requests for assistance or for additional copies of the
Prospectus, this Letter of Transmittal and the Notice of Guaranteed Delivery may
be directed to the Exchange Agent, whose address and telephone number appear on
the front cover of this Letter of Transmittal.
See Instruction 11 below.
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METHOD OF DELIVERY
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/ / CHECK HERE IF CERTIFICATES FOR TENDERED INITIAL NOTES ARE BEING
DELIVERED HEREWITH.
/ / CHECK HERE IF TENDERED INITIAL NOTES ARE BEING DELIVERED BY BOOK-ENTRY
TRANSFER MADE TO THE ACCOUNT MAINTAINED BY THE EXCHANGE AGENT WITH A
BOOK-ENTRY TRANSFER FACILITY AND COMPLETE THE FOLLOWING:
Name of Tendering Institution:________________________________________
Account Number: ________________ Transaction Code Number: __________
/ / CHECK HERE IF TENDERED INITIAL NOTES ARE BEING DELIVERED PURSUANT TO A
NOTICE OF GUARANTEED DELIVERY PREVIOUSLY DELIVERED TO THE EXCHANGE
AGENT PURSUANT TO INSTRUCTION 2 BELOW AND COMPLETE THE FOLLOWING:
Name of Registered Holder(s): ________________________________________
Window ticket No. (if any): __________________________________________
Date of Execution of Notice of Guaranteed Delivery: __________________
Name of Eligible Institution that Guaranteed Delivery: _______________
If Delivered by Book-Entry Transfer (yes or no): _____________________
Account Number: ________________ Transaction Code Number: __________
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List below the Initial Notes to which this Letter of Transmittal
relates. If the space provided below is inadequate, list the certificate numbers
and principal amounts on a separately signed schedule and affix the schedule to
this Letter of Transmittal.
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DESCRIPTION OF INITIAL NOTES
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NAME(S) AND ADDRESS(ES) OF
HOLDER(S) (PLEASE FILL IN, IF CERTIFICATE AGGREGATE PRINCIPAL AGGREGATE PRINCIPAL
BLANK) NUMBER(S) AMOUNT REPRESENTED AMOUNT TENDERED
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TOTAL
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FOR PARTICIPATING BROKER-DEALERS ONLY
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/ / CHECK HERE AND PROVIDE THE INFORMATION REQUESTED BELOW IF YOU ARE A
PARTICIPATING BROKER-DEALER AND WISH TO RECEIVE 10 ADDITIONAL COPIES OF
THE PROSPECTUS AND, DURING THE NINE-MONTH PERIOD FOLLOWING THE
CONSUMMATION OF THE EXCHANGE OFFER, 10 COPIES OF ANY AMENDMENTS OR
SUPPLEMENTS THERETO, AS WELL AS ANY NOTICES FROM THE COMPANY TO SUSPEND
AND RESUME USE OF THE PROSPECTUS. BY TENDERING ITS INITIAL NOTES AND
EXECUTING THIS LETTER OF TRANSMITTAL, EACH PARTICIPATING BROKER-DEALER
AGREES TO USE ITS REASONABLE BEST EFFORTS TO NOTIFY THE COMPANY OR THE
EXCHANGE AGENT WHEN IT HAS SOLD ALL OF ITS EXCHANGE NOTES. (IF NO
PARTICIPATING BROKER-DEALERS CHECK THIS BOX, OR IF ALL PARTICIPATING
BROKER-DEALERS WHO HAVE CHECKED THIS BOX SUBSEQUENTLY NOTIFY THE
COMPANY OR THE EXCHANGE AGENT THAT ALL THEIR EXCHANGE NOTES HAVE BEEN
SOLD, THE COMPANY WILL NOT BE REQUIRED TO MAINTAIN THE EFFECTIVENESS OF
THE EXCHANGE OFFER REGISTRATION STATEMENT OR TO UPDATE THE PROSPECTUS
AND WILL NOT PROVIDE ANY NOTICES TO ANY HOLDERS TO SUSPEND OR RESUME
USE OF THE PROSPECTUS.)
PROVIDE THE NAME OF THE INDIVIDUAL WHO SHOULD RECEIVE, ON BEHALF OF THE HOLDER,
ADDITIONAL COPIES OF THE PROSPECTUS, AND AMENDMENTS AND SUPPLEMENTS THERETO, AND
ANY NOTICES TO SUSPEND AND RESUME USE OF THE PROSPECTUS:
NAME:__________________________________________________________________________
ADDRESS:_______________________________________________________________________
TELEPHONE NO.:_________________________________________________________________
FACSIMILE NO.:_________________________________________________________________
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PLEASE SIGN HERE
(TO BE COMPLETED BY ALL HOLDERS OF INITIAL NOTES REGARDLESS OF
WHETHER INITIAL NOTES ARE BEING PHYSICALLY DELIVERED HEREWITH)
This Letter of Transmittal must be signed by the Holder(s) of Initial Notes
exactly as their name(s) appear(s) on certificate(s) for Initial Notes or, if
delivered by a participant in the Book-Entry Transfer Facility, exactly as
such participant's name appears on a security position listing as the owner
of Initial Notes, or by person(s) authorized to become Holder(s) by
endorsements and documents transmitted with this Letter of Transmittal. If
signature is by a trustee, executor, administrator, guardian,
attorney-in-fact, officer or other person acting in a fiduciary or
representative capacity, such person must set forth his or her full title
below under "Capacity" and submit evidence satisfactory to the Company of
such person's authority to so act. See Instruction 4 below.
If the signature appearing below is not of the record holder(s) of the
Initial Notes, then the record holder(s) must sign a valid bond power.
X __________________________________________________________________________
X __________________________________________________________________________
SIGNATURE(S) OF REGISTERED HOLDER(S) OR AUTHORIZED SIGNATORY
DATE: ______________________________________________________________________
NAME: ______________________________________________________________________
CAPACITY: __________________________________________________________________
ADDRESS: ___________________________________________________________________
___________________________________________________________________
(INCLUDING ZIP CODE)
AREA CODE AND TELEPHONE NO.: _______________________________________________
PLEASE COMPLETE SUBSTITUTE FORM W-9 HEREIN
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/ / CHECK HERE IF YOU ARE A BROKER-DEALER WHO ACQUIRED THE INITIAL NOTES
FOR ITS OWN ACCOUNT AS A RESULT OF MARKET-MAKING OR OTHER TRADING
ACTIVITIES AND WISH TO RECEIVE ADDITIONAL COPIES OF THE PROSPECTUS AND
COPIES OF ANY AMENDMENTS OR SUPPLEMENTS THERETO.
NAME: ________________________________________________________________________
ADDRESS: _____________________________________________________________________
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MEDALLION SIGNATURE GUARANTEE (SEE INSTRUCTION 4 BELOW)
(CERTAIN SIGNATURES MUST BE GUARANTEED BY AN ELIGIBLE INSTITUTION)
_______________________________________________________________________________
NAME OF ELIGIBLE INSTITUTION GUARANTEEING SIGNATURES
_______________________________________________________________________________
ADDRESS (INCLUDING ZIP CODE) AND TELEPHONE NUMBER (INCLUDING AREA CODE) OF FIRM
_______________________________________________________________________________
AUTHORIZED SIGNATURE
_______________________________________________________________________________
PRINTED NAME
_______________________________________________________________________________
TITLE
DATE:__________________________________________________________________________
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SPECIAL ISSUANCE INSTRUCTIONS
(SEE INSTRUCTIONS 3, 4, 5 and 7)
To be completed ONLY if Initial Notes in a principal amount not tendered or not
accepted for exchange are to be issued in the name of, or Exchange Notes are to
be issued in the name of, someone other than the person or persons whose
signature(s) appear(s) within this Letter of Transmittal.
Issue / / Initial Notes
/ / Exchange Notes
(check as applicable)
Name __________________________________________________________________________
(Please Print)
Address________________________________________________________________________
_______________________________________________________________________________
(Include Zip Code)
_______________________________________________________________________________
(Tax Identification or Social Security Number)
(SEE SUBSTITUTE FORM W-9 HEREIN)
Credit Initial Notes not tendered or not exchanged by book-entry transfer to the
Book- Entry Transfer Facility account set below:
_______________________________________________________________________________
(Book-Entry Transfer Facility Account Number)
Credit Exchange Notes to the Book-Entry Transfer Facility account set below:
_______________________________________________________________________________
(Book-Entry Transfer Facility Account Number)
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SPECIAL DELIVERY INSTRUCTIONS
(SEE INSTRUCTIONS 4 AND 9)
To be completed ONLY if Initial Notes in a principal amount not tendered or not
accepted for exchange or Exchange Notes are to be sent to someone other than the
persons whose signature(s) appear(s) within this letter of transmittal or to an
address different from that shown in the box entitled "Description of Initial
Notes" within this Letter of Transmittal.
Issue / / Initial Notes
/ / Exchange Notes
(check as applicable)
Name___________________________________________________________________________
(Please Print)
Address________________________________________________________________________
_______________________________________________________________________________
(Include Zip Code)
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INSTRUCTIONS TO LETTER OF TRANSMITTAL
FORMING PART OF THE TERMS AND CONDITIONS OF THE EXCHANGE OFFER
1. DELIVERY OF THIS LETTER OF TRANSMITTAL AND CERTIFICATES FOR INITIAL
NOTES OR BOOK-ENTRY CONFIRMATION; WITHDRAWAL OF TENDERS.
To tender Initial Notes in the Exchange Offer, physical delivery of
certificates for Initial Notes or confirmation of a book-entry transfer into the
Exchange Agent's account with a Book-Entry Transfer Facility of Initial Notes
tendered electronically, as well as a properly completed and duly executed copy
or manually signed facsimile of this Letter of Transmittal, or in the case of a
book-entry transfer, an Agent's Message, and any other Documents required by
this Letter of Transmittal, must be received by the Exchange Agent at its
address set forth herein prior to 5:00 p.m. New York time on the Expiration
Date. Tenders of Initial Notes in the Exchange Offer may be made prior to the
Expiration Date in the manner described in the preceding sentence and otherwise
in compliance with this Letter of Transmittal. THE METHOD OF DELIVERY OF THIS
LETTER OF TRANSMITTAL, CERTIFICATES FOR INITIAL NOTES AND ALL OTHER REQUIRED
DOCUMENTS TO THE EXCHANGE AGENT, INCLUDING DELIVERY THROUGH DTC AND ANY
ACCEPTANCE OF AN AGENT'S MESSAGE TRANSMITTED THROUGH ATOP, IS AT THE ELECTION
AND RISK OF THE HOLDER TENDERING INITIAL NOTES. IF SUCH DELIVERY IS MADE BY
MAIL, IT IS SUGGESTED THAT THE HOLDER USE PROPERLY INSURED, REGISTERED MAIL WITH
RETURN RECEIPT REQUESTED AND THAT SUFFICIENT TIME SHOULD BE ALLOWED TO ASSURE
TIMELY DELIVERY. NO ALTERNATIVE, CONDITIONAL OR CONTINGENT TENDERS OF INITIAL
NOTES WILL BE ACCEPTED. Except as otherwise provided below, the delivery will be
made when actually received by the Exchange Agent. THIS LETTER OF TRANSMITTAL,
CERTIFICATES FOR THE INITIAL NOTES AND ANY OTHER REQUIRED DOCUMENTS SHOULD BE
SENT ONLY TO THE EXCHANGE AGENT, NOT TO THE COMPANY, THE TRUSTEE OR DTC.
Initial Notes tendered pursuant to the Exchange Offer may be withdrawn
at any time prior to 5:00 p.m. New York time on the Expiration Date. In order to
be valid, notice of withdrawal of tendered Initial Notes must comply with the
requirements set forth in the Prospectus under the caption "The Exchange Offer
- -- Withdrawal of Tenders."
2. GUARANTEED DELIVERY PROCEDURES.
If Holders desire to tender Initial Notes pursuant to the Exchange
Offer and (i) certificates representing such Initial Notes are not lost but are
not immediately available, (ii) time will not permit this Letter of Transmittal,
certificates representing such Holder's Initial Notes and all other required
documents to reach the Exchange Agent prior to the Expiration Date or (iii) the
procedures for book-entry transfer cannot be completed prior to the Expiration
Date, such Holders may effect a tender of Initial Notes in accordance with the
guaranteed delivery procedures set forth in the Prospectus under the caption
"The Exchange Offer -- Guaranteed Delivery Procedures."
Pursuant to the guaranteed delivery procedures:
(i) such tender must be made by or through an Eligible Institution;
(ii) prior to the Expiration Date the Exchange Agent must have received
from such Eligible Institution at one of the addresses set forth on the
cover of this Letter of Transmittal a properly completed and validly
executed Notice of Guaranteed Delivery (by manually signed facsimile
transmission, mail or hand delivery) in substantially the form provided
with the Prospectus, setting
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forth the name(s) and address(es) of the registered Holder(s) and the
principal amount of Initial Notes being tendered and stating that the
tender is being made thereby and guaranteeing that, within three New
York Stock Exchange ("NYSE") trading days from the date of the Notice
of Guaranteed Delivery, the Letter of Transmittal (or a manually signed
facsimile thereof) properly completed and duly executed, or, in the
case of a book-entry transfer an Agent's Message together with
certificates representing the Initial Notes (or confirmation of
book-entry transfer of such Initial Notes into the Exchange Agent's
account at a Book-Entry Transfer Facility), and any other documents
required by this Letter of Transmittal and the instructions thereto,
will be deposited by such Eligible Institution with the Exchange Agent;
and
(iii) this Letter of Transmittal (or a manually signed facsimile
thereof), properly completed and validly executed with any required
signature guarantees, or, in the case of a book-entry transfer, an
Agent's Message, together with certificates for all Initial Notes in
proper form for transfer (or a Book- Entry Confirmation with respect to
all tendered Initial Notes), and any other required documents must be
received by the Exchange Agent within three NYSE trading days after the
date of such Notice of Guaranteed Delivery.
3. PARTIAL TENDERS.
If less than the entire principal amount of any Initial Notes evidenced
by a submitted certificate is tendered, the tendering Holder must fill in the
principal amount tendered in the last column of the box entitled "Description of
Initial Notes" herein. The entire principal amount represented by the
certificates for all Initial Notes delivered to the Exchange Agent will be
deemed to have been tendered, unless otherwise indicated. The entire principal
amount of all Initial Notes not tendered or not accepted for exchange will be
sent (or, if tendered by book-entry transfer, returned by credit to the account
at the Book-Entry Transfer Facility designated herein) to the Holder unless
otherwise provided in the "Special Issuance Instructions" or "Special Delivery
Instructions" boxes of this Letter of Transmittal.
4. SIGNATURES ON THIS LETTER OF TRANSMITTAL, BOND POWERS AND ENDORSEMENTS;
GUARANTEE OF SIGNATURES.
If this Letter of Transmittal is signed by the Holder(s) of the Initial
Notes tendered hereby the signature(s) must correspond with the name(s) as
written on the face of the certificate(s) without alteration, enlargement or any
change whatsoever. If this Letter of Transmittal is signed by a participant in
one of the Book-Entry Transfer Facilities whose name is shown as the owner of
the Initial Notes tendered hereby, the signature must correspond with the name
shown on the security position listing as the owner of the Initial Notes.
If any of the Initial Notes tendered hereby are registered in the name
of two or more Holders, all such Holders must sign this Letter of Transmittal.
If any tendered Initial Notes are registered in client names on several
certificates, it will be necessary to complete, sign and submit as many separate
copies of this Letter of Transmittal and any necessary accompanying documents as
there are different names in which certificates are held.
If this Letter of Transmittal or any certificates for Initial Notes or
bond powers are signed by trustees, executors, administrators, guardians,
attorneys-in-fact, officers of corporations or others acting in a fiduciary or
representative capacity, such persons should so indicate when signing, and,
unless waived by the Company, proper evidence satisfactory to the Company of
their authority so to act must be submitted with this Letter of Transmittal.
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IF THIS LETTER OF TRANSMITTAL IS EXECUTED BY A PERSON OR ENTITY WHO IS
NOT THE REGISTERED HOLDER, THEN THE REGISTERED HOLDER MUST SIGN A VALID BOND
POWER WITH THE SIGNATURE OF SUCH REGISTERED HOLDER GUARANTEED BY A PARTICIPANT
IN A RECOGNIZED MEDALLION SIGNATURE PROGRAM (A "MEDALLION SIGNATURE GUARANTOR").
No signature guarantee is required if (i) this Letter of Transmittal is
signed by the registered Holder(s) of the Initial Notes tendered herewith (or by
a participant in one of the Book-Entry Transfer Facilities whose name appears on
a security position listing as the owner of Initial Notes) and certificates for
Exchange Notes or for any Initial Notes for principal amounts not tendered or
not accepted for exchange are to be issued directly to such Holder(s) or, if
tendered by a participant in one of the Book-Entry Transfer Facilities, any
Initial Notes for principal amounts not tendered or not accepted for exchange
are to be credited to such participant's account at such Book-Entry Transfer
Facility and neither the "Special Issuance Instructions" box nor the "Special
Delivery Instructions" box of this Letter of Transmittal has been completed or
(ii) such Initial Notes are tendered for the account of an Eligible Institution.
IN ALL OTHER CASES ALL SIGNATURES ON LETTERS OF TRANSMITTAL ACCOMPANYING INITIAL
NOTES MUST BE GUARANTEED BY A MEDALLION SIGNATURE GUARANTOR. In all such other
cases (including if this Letter of Transmittal is not signed by the Holder), the
Holder must either properly endorse the certificates for Initial Notes tendered
or transmit a separate, properly completed bond power with this Letter of
Transmittal (in either case, executed exactly as the name(s) of the registered
Holder(s) appear(s) on such Initial Notes, and, with respect to a participant in
a Book-Entry Transfer Facility whose name appears on a security position listing
as the owner of Initial Notes, exactly as the name(s) of the participant(s)
appear(s) on such security position listing), with the signature on the
endorsement or bond power guaranteed by a Medallion Signature Guarantor, unless
such certificates or bond powers are executed by an Eligible Institution.
Endorsements on certificates for Initial Notes and signatures on bond
powers provided in accordance with this Instruction 4 by registered Holders not
executing this Letter of Transmittal must be guaranteed by a Medallion Signature
Guarantor
5. SPECIAL ISSUANCE AND SPECIAL DELIVERY INSTRUCTIONS.
Tendering Holders should indicate in the applicable box or boxes the
name and address to which Initial Notes for principal amounts not tendered or
not accepted for exchange or certificates for Exchange Notes, if applicable, are
to be issued or sent, if different from the name and address of the Holder
signing this Letter of Transmittal. In the case of payment to a different name,
the taxpayer identification or social security number of the person named must
also be indicated.
6. TAXPAYER IDENTIFICATION NUMBER.
Each tendering Holder is required to provide the Exchange Agent with
the Holder's social security or Federal employer identification number, on
Substitute Form W-9 which is provided under "Important Tax Information" below,
or alternatively to establish another basis for exemption from backup
withholding. A Holder must cross out Item (2) in the Certification box in Part
III of Substitute Form W-9 if such Holder is subject to backup withholding.
Failure to provide the information on the form may subject such Holder to 31%
Federal backup withholding tax on any payment made to the Holder with respect to
the Exchange Offer. The appropriate box in Part I of Substitute Form W-9 should
be checked if the tendering or consenting Holder has not been issued a Taxpayer
Identification Number ("TIN") and has either applied for a TIN or intends to
apply for a TIN in the near future. If the box in Part I of Substitute Form W-9
is checked, the Holder should also sign the attached Certification of Awaiting
Taxpayer Identification
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Number. If the Exchange Agent is not provided with a TIN within 60 days
thereafter, the Exchange Agent will withhold 31% on all such payments of the
Exchange Notes until a TIN is provided to the Exchange Agent.
7. TRANSFER TAXES.
The Company will pay all transfer taxes applicable to the exchange and
transfer of Initial Notes pursuant to the Exchange Offer, except if (i)
deliveries of certificates for Initial Notes for principal amounts not tendered
or not accepted for exchange are registered or issued in the name of any person
other than the Holder of Initial Notes tendered thereby, (ii) tendered
certificates are registered in the name of any person other than the person
signing this Letter of Transmittal or (iii) a transfer tax is imposed for any
reason other than the exchange of Initial Notes pursuant to the Exchange Offer,
in which case the amount of any transfer taxes (whether imposed on the
registered Holder or any other persons) will be payable by the tendering Holder.
If satisfactory evidence of payment of such taxes or exemption therefrom is not
submitted herewith the amount of taxes will be billed directly to such tendering
Holder.
8. IRREGULARITIES.
All questions as to the form of all documents and the validity
(including time of receipt) and acceptance of all tenders and withdrawals of
Initial Notes will be determined by the Company, in its sole discretion which
determination shall be final and binding. ALTERNATIVE, CONDITIONAL OR CONTINGENT
TENDERS OF INITIAL NOTES WILL NOT BE CONSIDERED VALID. The Company reserves the
absolute right to reject any and all tenders of Initial Notes that are not in
proper form or the acceptance of which, in the Company's opinion, would be
unlawful. The Company also reserves the right to waive any defects,
irregularities or conditions of tender as to particular Initial Notes. The
Company's interpretations of the terms and conditions of the Exchange Offer
(including the instructions in this Letter of Transmittal) will be final and
binding. Any defect or irregularity in connection with tenders of Initial Notes
must be cured within such time as the Company determines, unless waived by the
Company. Tenders of Initial Notes shall not be deemed to have been made until
all defects or irregularities have been waived by the Company or cured. A
defective tender (which defect is not waived by the Company or cured by the
Holder) will not constitute a valid tender of Initial Notes and will not entitle
the Holder to Exchange Notes. None of the Company, the Trustee, the Exchange
Agent or any other person will be under any duty to give notice of any defect or
irregularity in any tender or withdrawal of any Initial Notes, or incur any
liability to Holders for failure to give any such notice.
9. WAIVER OF CONDITIONS.
The Company reserves the right, in its reasonable discretion, to amend
or waive any of the conditions to the Exchange Offer.
10. MUTILATED, LOST, STOLEN OR DESTROYED CERTIFICATES FOR INITIAL NOTES.
Any Holder whose certificates for Initial Notes have been mutilated,
lost, stolen or destroyed should write to or telephone the Trustee at the
address or telephone number set forth on the cover of this Letter of Transmittal
for the Exchange Agent.
11. REQUESTS FOR ASSISTANCE OR ADDITIONAL COPIES.
Questions relating to the procedure for tendering Initial Notes and
requests for assistance or additional copies of the Prospectus, this Letter of
Transmittal, the Notice of Guaranteed Delivery or other
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documents may be directed to the Exchange Agent, whose address and telephone
number appear on the cover of this Letter of Transmittal.
IMPORTANT TAX INFORMATION
Under Federal income tax laws, a Holder who tenders Initial Notes prior
to receipt of the Exchange Notes is required to provide the Exchange Agent with
such Holder's correct TIN on the Substitute Form W-9 below or otherwise
establish a basis for exemption from backup withholding. If such Holder is an
individual, the TIN is his or her social security number. If the Exchange Agent
is not provided with the correct TIN, a $50 penalty may be imposed by the
Internal Revenue Service ("IRS") and payments, including any Exchange Notes,
made to such Holder with respect to Initial Notes exchanged pursuant to the
Exchange Offer may be subject to backup withholding.
Certain Holders (including among others, all corporations and certain
foreign persons) are not subject to these backup withholding and reporting
requirements. Exempt Holders should indicate their exempt status on the
Substitute Form W-9. A foreign person may qualify as an exempt recipient by
submitting to the Exchange Agent a properly completed IRS Form W-8 signed under
penalties of perjury, attesting to that Holder's exempt status. A Form W-8 can
be obtained from the Exchange Agent. See the enclosed "Guidelines for
Certification of Taxpayer Identification Number on Substitute Form W-9" for
additional instructions. Holders are urged to consult their own tax advisors to
determine whether they are exempt.
If backup withholding applies, the Exchange Agent is required to
withhold 31% of any payments made to the Holder or other payee. Backup
withholding is not an additional Federal income tax. Rather, the Federal income
tax liability of persons subject to backup withholding will be reduced by the
amount of tax withheld. If withholding results in an overpayment of taxes, a
refund may be obtained from the IRS.
PURPOSE OF SUBSTITUTE FORM W-9
To prevent backup withholding on payments, including any Exchange
Notes, made with respect to Initial Notes exchanged pursuant to the Exchange
Offer, the Holder is required to provide the Exchange Agent with (i) the
Holder's correct TIN by completing the form below, certifying that the TIN
provided on the Substitute Form W-9 is correct (or that such Holder is awaiting
a TIN) and that (A) such Holder is exempt from backup withholding, (B) the
Holder has not been notified by the IRS that the Holder is subject to backup
withholding as a result of failure to report all interest or dividends or (C)
the IRS has notified the Holder that the Holder is no longer subject to backup
withholding, and (ii) if applicable, an adequate basis for exemption.
WHAT NUMBER TO GIVE THE EXCHANGE AGENT
The Holder is required to give the Exchange Agent the TIN (e.g., social
security number or employer identification number) of the registered Holder. If
the Initial Notes are held in more than one name or are held not in the name of
the actual owner, consult the enclosed "Guidelines for Certification of Taxpayer
Identification Number on Substitute Form W-9" for additional guidance on which
number to report.
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PAYOR'S NAME: THE J.H. HEAFNER COMPANY, INC.
PAYEE INFORMATION (Please print or type):
Individual or business name (if joint account
list first and circle the name of person or
entity whose number you furnish in Part 1
below):
_____________________________________________
Check appropriate box:
SUBSTITUTE / / Individual/Sole Proprietor
FORM W-9 / / Corporation / / Partnership / / Other
DEPARTMENT OF THE
TREASURY _____________________________________________
INTERNAL REVENUE SERVICE Address
_____________________________________________
City, State and Zip Code
PART I TAXPAYER IDENTIFICATION NUMBER ("TIN"):
Enter your TIN in the box at right. For
individuals this is your social security
number; for other entities it is your employer
identification number. Refer to the chart in
Item A on page 1 of the Guidelines for
Certification of Taxpayer Identification
Number on Substitute Form W-9 (the
"Guidelines") for further clarification. If
you do not have a TIN, see instructions on how
to obtain a TIN in Item C on page 2 of the
Guidelines, check the appropriate box below
indicating that you have applied for a TIN
and, in addition to the Part III
Certification, sign the attached Certification
of Awaiting Taxpayer Identification Number.
Social security number:
_____________________________________________
Employer identification number:
_____________________________________________
APPLIED FOR TIN / /
PART II PAYEES EXEMPT FROM BACKUP
WITHHOLDING: Check box. (See Item B on pages
1-2 of the Guidelines for further
clarification. Even if you are exempt from
backup withholding, you should still complete
and sign the certification below):
Exempt / /
REQUEST FOR TAXPAYER PART III CERTIFICATION: You must cross out
IDENTIFICATION NUMBER AND item 2 below if you have been notified by the
CERTIFICATION Internal Revenue Service (the "IRS") that you
are currently subject to backup withholding
because of underreporting interest or
dividends on your tax return (See page 2 of
the Guidelines for further clarification).
Under penalties of perjury, I certify that:
1. The number shown on this form is my
correct taxpayer identification number
(or I am waiting for a number to be
issued to me) and
2. I am not subject to backup withholding
because: (a) I am exempt from backup
withholding, (b) I have not been notified
by the IRS that I am subject to backup
withholding as a result of a failure to
report all interest or dividends or (c)
the IRS has notified me that I am no
longer subject to backup withholding.
Signature:___________________________________
Date:________________________________________
NOTE: FAILURE TO COMPLETE AND RETURN THIS SUBSTITUTE FORM W-9 MAY RESULT IN
BACKUP WITHHOLDING OF 31% OF ANY PAYMENT MADE TO YOU PURSUANT TO THE EXCHANGE
OFFER. PLEASE REVIEW THE ENCLOSED "GUIDELINES FOR CERTIFICATION OF TAXPAYER
IDENTIFICATION NUMBER ON SUBSTITUTE FORM W-9" FOR ADDITIONAL DETAILS.
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YOU MUST COMPLETE THE FOLLOWING CERTIFICATION IF YOU CHECKED
THE BOX "APPLIED FOR TIN" IN PART I OF SUBSTITUTE FORM W-9
CERTIFICATION OF AWAITING TAXPAYER IDENTIFICATION NUMBER
I certify, under penalties of perjury, that a TIN has not been issued to me, and
either (a) I have mailed or delivered an application to receive a TIN to the
appropriate IRS Service Center or Social Security Administration Office or (b) I
intend to mail or deliver an application in the near future. I understand that I
must provide a TIN to the payor within 60 days of submitting this Substitute
Form W-9 and that if I do not provide a TIN to the payor within 60 days, the
payor is required to withhold 31% of all reportable payments thereafter to me
until I furnish the payor with a TIN.
Signature:_________________________________________ Date:_____________________
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GUIDELINES FOR CERTIFICATION OF TAXPAYER IDENTIFICATION
NUMBER ON SUBSTITUTE FORM W-9
A. TIN -- The Taxpayer Identification Number for most individuals is their
social security number. Refer to the following chart to determine the
appropriate number:
- -------------------------------------------------------------------------------------------------------------------
GIVE THE SOCIAL SECURITY OR EMPLOYER IDENTIFICATION
FOR THIS TYPE OF ACCOUNT: NUMBER OF:
- -------------------------------------------------------------------------------------------------------------------
1. Individual The individual
2. Two or more individuals (joint account) The actual owner of the account
or, if combined funds, the first
individual on the account(1)
3. Custodian account of a minor (Uniform
Gift to Minors Act) The minor(2)
4. a. Revocable savings trust (grantor is The grantor-trustee(1)
also trustee)
b. So-called trust account that is not a The actual owner(1)
legal or valid trust under State law
5. Sole proprietorship The owner(3)
6. A valid trust, estate or pension trust Legal entity(4)
7. Corporate The corporation
8. Association, club, religious, charitable, The organization
educational or other tax exempt organization
9. Partnership The partnership
10. A broker or registered nominee The broker or nominee
11. Account with the Department of The public entity
Agriculture
- -------------------------------------------------------------------------------------------------------------------
(1) List first and circle the name of the person whose number you furnish.
(2) Circle the minor's name and furnish the minor's name and social security
number.
(3) Show the individual's name. You may also enter your business name or "doing
business as" name. You may use either your Social Security number or your
employer identification number.
(4) List first and circle the name of the legal trust, estate or pension trust.
NOTE: If no name is circled when there is more than one name, the number will be
considered to be that of the first name listed.
B. EXEMPT PAYEES -- The following lists exempt payees. If you are exempt, you
must nonetheless complete the form and provide your TIN in order to establish
that you are exempt. Check the box in Part II of the form, sign and date the
form.
For this purpose, Exempt Payees include: (1) a corporation; (2) an
organization exempt from tax under section 501(a), or an individual retirement
plan (IRA) or a custodial account under section 403(b)(7);
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(3) the United States or any of its agencies or instrumentalities; (4) a state,
the District of Columbia, a possession of the United States, or any of their
political subdivisions or instrumentalities; (5) a foreign government or any of
its political subdivisions, agencies or instrumentalities; (6) an international
organization or any of its agencies or instrumentalities; (7) a foreign central
bank of issue; (8) a dealer in securities or commodities required to register in
the U.S. or a possession of the U.S.; (9) a real estate investment trust; (10)
an entity or person registered at all times during the tax year under the
Investment Company Act of 1940; (11) a common trust fund operated by a bank
under section 584(a); and (12) a financial institution.
C. OBTAINING A NUMBER -- If you do not have a taxpayer identification number or
you do not know your number, obtain Form SS-5, application for a Social Security
Number, or Form SS-4, Application for Employer Identification Number, at the
local office of the Social Security Administration or the Internal Revenue
Service and apply for a number.
D. PRIVACY ACT NOTICE -- Section 6109 requires most recipients of dividend,
interest or other payments to give taxpayer identification numbers to payers who
must report the payments to the IRS. The IRS uses the numbers for identification
purposes.
Payers must be given the numbers whether or not payees are required to
file tax returns. Payers must generally withhold 31% of taxable interest,
dividend and certain other payments to a payee who does not furnish a taxpayer
identification number. Certain penalties may also apply.
E. PENALTIES --
(1) Penalty for Failure to Furnish Taxpayer Identification Number. If
you fail to furnish your taxpayer identification number to a payer, you are
subject to a penalty of $50 for each such failure unless your failure is due to
reasonable cause and not to willful neglect.
(2) Failure to Report Certain Dividend and Interest Payments. If you
fail to include any portion of an includable payment for interest, dividends, or
patronage dividends in gross income, such failure will be treated as being due
to negligence and will be subject to a penalty of 5% on any portion of an
under-payment attributable to that failure unless there is clear and convincing
evidence to the contrary.
(3) Civil Penalty for False Information with Respect to Withholding. If
you make a false statement with no reasonable basis which results in no
imposition of backup withholding, you are subject to a penalty of $500.
(4) Criminal Penalty for Falsifying Information. Falsifying
certifications or affirmations may subject you to criminal penalties including
fines and/or imprisonment.
FOR ADDITIONAL INFORMATION CONTACT YOUR TAX CONSULTANT OR THE INTERNAL REVENUE
SERVICE.
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